Walmart — Nov 19, 2024 release

• Sales reflect broad-based strength across merchandise categories and physical and digital channels • Strong transaction counts and unit volumes; share gains primarily from upper-income households • E-commerce sales up 22%, led by store-fulfilled pickup & delivery, advertising and marketplace • Walmart Connect grew 26%; marketplace sellers driving growth in advertiser counts • Gross profit rate increased 42 bps; membership income up double-digits; operating expense deleveraged 33 bps • Operating income up 9.1% with expansion of gross margin and membership income as well as lower losses in eCommerce, aided by improved business mix • Inventory declined 0.6% while maintaining healthy in-stock levels Walmart International FY’25Q3 FY’24Q3 Change Net sales $30.3 $28.0 $2.3 8.0% Net sales (cc) 1 $31.5 $28.0 $3.5 12.4% Operating income $1.2 $1.1 $0.1 7.8% Operating income (cc) 1 $1.3 $1.1 $0.2 16.7% Walmart International • Growth in net sales (cc) 1 led by Flipkart, Walmex, and China; transaction counts & unit volumes up across markets • Sales reflects growth in general merchandise and food & consumables • Timing of Flipkart’s The Big Billion Days (“BBD”) event benefited growth in Q3 and will impact growth in Q4 • E-commerce sales up 43%, led by marketplace and store-fulfilled pickup & delivery; penetration up across markets • Advertising business 3 grew 50%, led by Flipkart • Growth in eCommerce sales and advertising business for 2H expected to be similar to 1H • Operating income (cc) 1 grew across markets; benefited from lower losses in eCommerce 1 See additional information at the end of this release regarding non-GAAP financial measures. 2 Comp sales for the 13-week period ended October 25th, 2024 compared to the 13-week period ended October 27th, 2023, and excludes fuel. See Supplemental Financial Information for additional information. 3 Our global advertising business is recorded in either net sales or as a reduction to cost of sales, depending on the nature of the advertising arrangement. NP - Not provided cc - constant currency 3 Sam’s Club U.S. FY’25Q3 FY’24Q3 Change Net sales $22.9 $22.0 $0.9 3.9% Net sales (ex. fuel) $20.3 $18.9 $1.4 7.2% Comp sales (ex. fuel) 1 7.0% 3.8% NP NP Transactions 6.4% 4.0% NP NP Average Ticket 0.5% -0.2% NP NP eCommerce contribution to comp ~290 bps ~170 bps NP NP Operating income $0.6 $0.6 $0.0 6.9% Sam’s Club U.S. • Strong sales growth across club and digital channels, led by food and health & wellness categories • Comp growth primarily driven by transaction counts and unit volumes • Share gains in grocery and general merchandise categories, including apparel and consumer electronics • E-commerce